IMF: Emerging markets growth slowdown bottomed out in 2022, but risks remain

Dhwani Mehta FXStreet

After raising the global GDP growth forecasts, the International Monetary Fund (IMF) unveils it's Gross Domestic Product (GDP) expectations for the Emerging Market economies, the UK and Japan.

Key takeaways

IMF lifts 2023 GDP growth estimate for China by 0.8 percentage point to 5.2%; 2024 view unchanged at 4.5%.

IMF lifts 2023 emerging, developing economies GDP growth estimate to 4.0%, 2024 rate view lowered to 4.2%.

IMF sees annualized inflation in emerging, developing economies slowing to 8.1% in 2023 from 9.9% in 2022; 2024 view at 5.5%.

IMF holds view on 2023, 2024 GDP growth in India at 6.1%, 6.8% respectively.

IMF sees Russia GDP growth rate at 0.3% in 2023, up 2.6 percentage points from its October projection.

IMF raises 2023 GDP growth estimate for Mexico by 0.5 pct pt to 1.7%; 2024 view lowered to 1.6%.

IMF raises 2023 GDP growth estimate for Brazil by 0.2 pct pt to 1.2%; 2024 view lowered to 1.5%.

IMF raises 2023 GDP growth estimate for LatAm and Caribbean by 0.1 pct pt to 1.8%; 2024 view lowered to 2.1%.

IMF lowers 2023 GDP growth estimate for Saudi Arabia by 1.1 pct pts to 2.6%; 2024 view raised to 3.4%.

IMF upgraded its forecast for growth in Japan's GDP this year to 1.8% from its October estimate of 1.6%, but lowered its 2024 growth forecast to 0.9% from October's 1.3%.

IMF expects the UK GDP to contract 0.6% this year and expand 0.9% in 2024.

China reopening to boost 2023 global activity.

World far from having won the inflation fight.

Related reads

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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